As a heavy investor in Lucid, I share the stock price pain. However, I remain grateful that Lucid launched under the hand of Peter Rawlinson. I do not believe any other player in the automotive world could have brought a product to market that moved so many needles -- efficiency, range, power/weight/volume ratios, space engineering, chassis performance -- at once. (For those who want to say "MUSK!", remember that it was Peter Rawlinson who did the engineering heavy lifting on the original Model S that won Car of the Year at launch . . . an act he uniquely reprised with the Lucid Air ten years later.) And the Air, despite the low sales numbers of a niche market, still outsold its competitors from Tesla, Mercedes, and Porsche (the Model S, the EQS, the Taycan.)
And look at the EV missteps and failures from so many long-established brands. Mercedes had to move to a completely new platform after the EQS line stumbled so badly. Nissan, after lengthy delays, pulled the Ariya from the U.S. market. Honda buys its EV technology from GM after lackluster internal efforts. Toyota's Lexus RZ was a bad joke with real-world range in the mid-100s that couldn't sell even at massively-discounted prices. Mazda is nowhere to be seen on the EV landscape. And VW is a near shambles, recently announcing 100,000 layoffs by 2030, mainly because they stumbled so badly with EVs in a home market that is turning quickly to EVs.
If any of these companies had not had their legacy ICE lines to keep them afloat, their future and their stock prospects would look far bleaker than Lucid's.